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Algeria Releases 2020 Draft Budget

Friday, October 4, 2019

Algeria has released its draft Budget Law for 2020, including proposals for a number of tax reliefs.

The Government has announced that it will offer a profit tax holiday and value-added tax exemptions for start-up businesses during their initial years, and is looking to roll out four new tax-privileged special economic zones.

Further, the Government has committed to redouble the enforcement of taxes on wealthy persons and real estate.

Finally, the Budget would relax the "51/49" rules on foreign direct investors that preclude foreign investors from holding a majority shareholding in an Algerian venture.